Popular News From Popular Sites: Vatican Bank reforms prompt jump in reports of suspicious activity

Monday, May 19, 2014

Vatican Bank reforms prompt jump in reports of suspicious activity

An exterior view of the tower of the Institute for Works of Religion in Vatican City By Philip Pullella VATICAN CITY (Reuters) - Reports of suspicious financial transactions at the Vatican leapt to 202 in 2013 from six the previous year, its Financial Information Authority (AIF) said on Monday, attributing the rise to keener vigilance prompted by reforms at the scandal-ridden Vatican Bank. Since 2010, the Vatican has been enacting new legislation to bring its bank, the Institute for Works of Religion (IOR), in line with international standards on financial transparency money laundering. Only five were considered serious enough to be referred to the Vatican's prosecutor. "We are not perfect yet, we are not super-good yet," Rene Bruelhart, the Swiss lawyer who heads the AIF, told a news conference.




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